Analysts say for the housing market to make any real improvement, employment has to improve. It may seem counter-intuitive, but a larger number of people walking away from their jobs is being taken as an indication the job market is on the rebound. The latest “Take This Job and Shove …
Housing may seem like it’s in the tank, but a look by Forbes at markets over the last decade tells a different story. The magazine reports that the value of a square foot of housing in the U.S. is up 58 percent from its January 2000 level. New York performed …
Trulia.com and RealtyTrac released the latest results of an ongoing survey tracking homebuyers’ attitudes toward foreclosed homes Tuesday. Results of the survey conducted online from November 2-4, 2010 by Harris Interactive showed that Americans continue to grapple with uncertainty about the housing market, with 58 percent of U.S. adults expecting …
In yesterday’s News at Noon, Michigan Retailer Jim Dietrich commented that we may be moving into simpler times. ( http://www.mhmsm.com/blogs/daily-business-news/a-housing-market-report-from-michigan.php A recent Associated Press story in the New York Times provides what may be additional evidence. According to the article, luxury home builder Toll Brothers report its new home contracts …
HousingWire reports that double-digit declines in the mortgage delinquency rate for all 50 states will occur through next year, according to TransUnion. The company expects the national mortgage delinquency rate to fall by about one-fifth to 4.98 percent by the end of 2011. The company projects the rate at 6.21 …
Double-digit Declines in Mortgage Delinquency Projected Through 2011 Read More
More on the layoffs coming to Oregon made the pages of the Oregonian Tuesday. The story mentioned the closing of a Liberty Homes plant in Sheridan, Oregon that will mean the loss of 83 jobs. In addition, the article says ZipRealty is laying off 51 sales agents, and a bio-tech …
UPI.com reports that there may be a large shadow inventory of foreclosed homes in the American Heartland. The reason: no data is collected from small lenders or lenders that operate exclusively in rural areas. Homeowners in the heartland struggle with many of the same factors that plague urban and suburban …
Rural Foreclosures: The Hidden Heartland Inventory Read More
A U.S. mortgage sub-sector historically known for its problematic performance has emerged as one of its more stable performers, according to Fitch Ratings in a new report. The manufactured housing sector has experienced very slight increases in loss severities, net loss rates and 60-day delinquencies over the last year. This …
Fitch: U.S. Manufactured Housing Remains Stable Amid Market Turmoil Read More
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, MHMSM.com, along with homebuilders, industry and realtor groups is urging the maintenance of the benefit in its full potency. “The owners of manufactured homes, like all homeowners, benefit from …
MHMSM.com Urges Preservation of Mortgage Interest Deduction Read More
A call to Jim Dietrich, vice president of sales at Roy’s Home Center in Gobles, Michigan on another matter allowed us some insight into the market there. Somewhat expected, Dietrich reported sales of manufactured homes to be slow, similar to the over-all housing market. “We’re having a hard time getting …
Oregonlive.com reports that more than 200 workers will likely lose their jobs under layoffs announced Thursday by three unrelated western Oregon companies. The job losses come in the manufactured home, real estate and bio tech industries. According to the report, Liberty Homes Inc. filed plans with the state to permanently …
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, homebuilders, industry and realtor groups are urging the maintenance of the benefit in its full potency. National Association of Homebuilders (NAHB) Chairman Bob Jones recently said reducing the benefit …
MHI, Realtors, Home Builders Urge Action to Save Mortgage Interest Deduction Read More
Pending home sales jumped in October, showing a positive uptrend since bottoming in June, according to the National Association of Realtors. The Pending Home Sales Index rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to …
Freddie Mac released the results of its Primary Mortgage Market Survey Thursday, which found that the both fixed- and shorter-term mortgage rates rose this week. This was the third week in a row where fixed-rate mortgage rates were up. The 30-year fixed-rate mortgage (FRM) averaged 4.46 percent with an average …
Reports from the twelve Federal Reserve Districts indicate that the economy continued to improve, on balance, during the reporting period from early/mid-October to mid-November. Manufacturing activity continued to expand in almost all districts. Housing markets remain depressed, however with several Districts reporting further weakening during the past six weeks. Residential …
Fed’s Beige Book Finds Improving Economy, Slow Housing Market Read More
Freddie Mac says enjoy the holiday, foreclosures can wait until after January 3. The mortgage giant announced Wednesday it has ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 20, 2010 to January 3, 2011. “If the …
While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market. Data through September, 2010, released Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, …
Broad-based Declines in Home Prices in the 3rd Quarter of 2010 Read More
